Form 8703 - Annual Certification Of A Residential Rental Project (Page 4 of 4) in pdf

Form 8703 (Rev. 9-2013)

Page

Privacy Act and Paperwork Reduction

Line 11. Enter the number of low-income

Line 18. Enter the CUSIP (Committee on

units vacated during the calendar year.

Uniform Securities Identification Procedures)

Act Notice

number of the bond with the latest maturity. If

Line 12. Enter the number of vacated

We ask for the information on this form to carry

the issue does not have a CUSIP number,

low-income units that were occupied by new

out the Internal Revenue laws of the United

write "None." The CUSIP number should be

residents who were low-income residents at

States. Code section 142(d)(7) requires that an

identical to the CUSIP number listed on Form

the time of occupancy. The instructions for

annual certification be filed with the IRS to

8038, Part I, line 9, filed with respect to the

lines 6 and 7 describe low-income residents.

determine whether the legal requirements of that

bond issue.

section are being met. Routine uses of the

Line 13. Enter the number of vacant

Line 19. Enter the issue price of the bond

information provided on this form include giving

low-income units that were held available for

issue. The issue price of bonds is generally

it to the Department of Justice for civil and

low-income residents as of the end of the

determined under Regulations section

criminal litigation and to other federal agencies,

calendar year.

1.148-1(b). Thus, when issued for cash, the

as provided by law. We may disclose the

Note. Lines 11 through 13 ask questions

issue price is the first price at which a

information to cities, states, the District of

about low-income units that were vacated

substantial amount of the bonds are sold to

Columbia, and U.S. commonwealths or

during the calendar year. Regulations sections

the public. To determine the issue price of an

possessions to administer their tax laws. We

1.103-8(b)(5)(i) and (ii) provide, that low-

obligation issued for property, see sections

may also disclose the information to foreign

income units must be rented or available for

1273 and 1274 and the related regulations.

governments pursuant to tax treaties or to

rent on a continuous basis by low-income

The issue price should be identical to the

federal and state agencies to enforce federal

tenants during the longer of: (a) the remaining

issue price listed on Form 8038, Part III, line

nontax criminal laws and to combat terrorism. If

term of the bond, or (b) the qualified project

21(b), filed with respect to the bond issue.

you do not provide this form or all of the

period. If lines 12 and 13 do not add up to line

information requested on it, you may be subject

Line 20. The final maturity date is the last date

11, then make a determination as to whether

to penalties.

the issuer must redeem the entire issue. Enter

the project is in compliance with the

the date in an MM/DD/YYYY format. The final

To ensure proper identification of the owner

requirements of section 142(d). If it is

maturity date should be identical to the final

and operator of the project, Code section 6109

determined that the project is not in

maturity date listed on Form 8038, Part III, line

and its regulations require an identifying

compliance, check the box in Part IV to certify

21(a), filed with respect to the bond issue.

number (social security number (SSN) or

that the project "does not meet" the

employer identification number (EIN)) on the

requirements of section 142(d).

Certification

annual certification.

Part III—Issuer and Description of

Section 142(d)(7) requires the operator of the

You are not required to provide the

Bonds

project to submit this annual certification as to

information requested on a form that is subject

whether the project continues to meet the

to the Paperwork Reduction Act unless the form

If the project for which you are filing Form

requirements of section 142(d). This form must

displays a valid OMB control number. Books or

8703 has been financed by more than one

be signed by the operator of the project.

records relating to a form or its instructions must

tax-exempt bond issue, attach a separate

be retained as long as their contents may

statement containing the information required

Paid Preparer

become material in the administration of any

in Part III, lines 14 through 20, for each bond

If an authorized officer of the operator filled in

Internal Revenue law. Generally, return

issue.

this return, the paid preparer's space should

information is confidential, as required by Code

Line 14. The issuer's name is the name of the

remain blank. Anyone who prepares the return

section 6103.

entity issuing the bonds, not the name of the

but does not charge the organization should not

The time needed to complete and file this

entity receiving the benefits of the financing.

sign the return. Certain others who prepare the

form will vary depending on individual

The name of the issuer should be identical to

return should not sign the return. For example, a

circumstances. The estimated average time is:

the name listed on Form 8038, Part I, line 1,

regular full-time employee of the operator, such

Recordkeeping

. 7 hr., 39 min.

filed with respect to the bond issue.

as a clerk, secretary, etc., should not sign.

Learning about the law

Line 15. Enter the issuer's employer

Generally, anyone who is paid to prepare a

or the form .

1 hr., 51 min.

identification number (EIN). The issuer's EIN

return must sign it and fill in the other blanks in

Preparing and sending the

should be identical to the EIN listed on Form

the Paid Preparer Use Only area of the return.

form to the IRS .

3 hr., 16 min.

8038, Part I, line 2, filed with respect to the

The paid preparer must: Sign the return in the

If you have comments concerning the

bond issue.

space provided for the preparer's signature,

accuracy of these time estimates or

Line 16. Enter the name of the bond issue. If

enter the preparer information, and give a copy

suggestions for making this form simpler, we

there is no name of the issue, please provide

of the return to the operator.

would be happy to hear from you. You can send

other identification of the issue. The name of

your comments to:

the bond issue should be identical to the

Internal Revenue Service

name listed on Form 8038, Part I, line 8, filed

Tax Forms and Publications Division

with respect to the bond issue.

1111 Constitution Ave. NW, IR-6526

Line 17. Enter the date of the bond issue.

Washington, DC 20224

Enter the date in an MM/DD/YYYY format.

Do not send the form to this address.

The date of the bond issue is generally the

Instead, see Where to file, earlier.

date on which the issuer physically

exchanges the bonds for the underwriter's (or

other purchaser's) funds. The issue date

should be identical to the issue date listed on

Form 8038, Part I, line 7, filed with respect to

the bond issue.

Form 8703 - Annual Certification Of A Residential Rental Project Page 4

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